By Chris Becker
With US markets closed overnight, the rest of the risk complex didn’t have much of a lead to go on, with European markets putting in scratch sessions although the FTSE jumped again as the bottom fell out of Pound Sterling as Boris Johnson threatened a general election in the wake of Brexit.
Looking at the action on Asian markets yesterday, where the Shanghai Composite closed nearly 1.3% higher to finally get back above the 2900 point level at 2924 while the Hang Seng Index faltered and stumbled, falling nearly 0.4% to 25626 points. Pressure is building here as price moves below the low moving average on the daily chart, still anchored nearer the terminal low just below 25000 point. Without any buying support and a rollover in momentum, 25000 will be tested again soon:
